Ethereum

Vitalik Buterin's father introduced him to Bitcoin in 2012, while he was 17, because of his great interest in technology.

Vitalik started writing articles for Bitcoin Magazine and offered some great suggestions for building a more robust platform for Bitcoin. But no one paid attention, so he decided to invent his digital currency.

His idea was Ethereum and started in 2015. The price of Ethereum has reached $41,500,000 since 2015, and the market volume has reached $192,734,000,000.

Based on this information, we can conclude that Ethereum technology has the potential to change the world.

Ethereum White Paper was declared in 2013 by Vitalik Buterin. The white paper contained a computing platform on a Blockchain platform that was public, open-source, and could execute smart contracts. The symbol of Ethereum digital currency is ETH.

What is the difference between Ether and Ethereum?

You can use Ether as a digital currency in financial transactions, investments, or currency reserves.

Ethereum is the Blockchain network in which Ether is stored and exchanged. It also offers functions other than ETH. You can use the Ethereum network to store data and run decentralized applications.

People can use application hosting in Ethereum Blockchain instead of using software hosting controlled and managed on a server owned by Google or Amazon. This allows users to control their data. Perhaps one of the most appealing things about Ether and Ethereum is self-executing or so-called smart contracts.

Ethereum extraction

Both Bitcoin and Ethereum are created by a process called 'extraction'. The users give Blockchain the processing power of their system to extract Ethereum. Nodes in the Blockchain check for transactions. This process is called mining because it is similar to gold or diamond mining. Instead of digging in the ground, digital currency miners approve transactions.

To extract Ethereum, you need three steps

· A system with a solid graphic card

· Install a particular Ethereum wallet

· Join the pool and start mining

Today, some famous digital currencies such as Bitcoin, Bitcoin Cash, Litecoin, etc., are extracted using devices called ASIC. But you need powerful graphic cards on your system to mine some other digital currencies. For example, it is better to use a GPU graphics card to extract Ethereum because it is more economical than an AISIC device. Please pay attention that you do not become rich overnight by flashing your miner, and it takes a long time.

Wallets that support Ethereum

Ethereum is the second most popular digital currency and one of the most popular digital currencies. Many hardware, software, online wallets, and browser plug-ins support it. Wallets such as

· Trust wallet

· Ledger Nano S

· Ledger Nano X

· Trezor

· Myether wallet

· Mayatrolt

· Atomic Wallet

· Jaxx

are the examples of wallets suitable for maintaining Ethereum.

Pros and cons of Ethereum

Positive points

· Decentralized

· Beyond digital currency

· High security

· More scalable than bitcoin

· Ability to create smart contracts

· Unlimited

Cons

· High fees

· High price

In the world of digital currencies, everyone is responsible for their capital and assets. To buy Ethereum, you need to go to a safe exchange and buy your Ethereum by paying Fiat currency or Tether and transfer it to your wallet.